Noone accepts Rs. 10 in Manipur, despite RBI clarification - TNBCLive

In Manipur, the coin of Rs. 10 has become a major problem for common people. Despite regular clarifications by the Reserve Bank of India (RBI), people in Manipur, especially small traders are reluctant to trade with Rs. 10 coins.

Some people are aware of the circulation of the coin but doubtfulness it still high over the validity of the coin among local vendors and shopkeepers. Th. Manglembi, a teacher in a state-run school, said vendors, mostly grocery stores, do not deal with Rs. 10 coin while maintaining that private banks do not accept it.

A vegetable seller of the local market said that she does not want to know the exact reason but all her colleagues have asked her not accept Rs. 10 coins. Mary Tangpua, the general manager of RBI’s Imphal branch clarified the misconception saying that the reluctance stems out of rumors doing the rounds over the “genuineness” of the tender.

“The Rs. 10-denomination coin, which comes in 14 designs, is not counterfeit or fake and can be accepted without any hesitation,” she said.

All over the state, the RBI is regularly organizing “financial literary camps” to educate and enlighten people about the valid tender and fake currency. “It’s been 2.5 years since demonetization, but people here are still skeptical about what is legal and what isn’t,” she explained.

She also assured that those banks who have refused to accept Rs. 10-denomination coins, proper step will be taken against them if the complaints are filed with the SBI.

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